Why Buy One Item When You Can Get Two at a Price of One?

bag-15841_640Yes, it is completely possible. You are able to buy two items at a price of one. For this purpose, you don’t need to do much but to be a smart shopper. People like to prefer online buying, not only because it is comfortable but it also help you enjoy discount. This is the real beauty of online shopping. You can explore a wide collection and get the best items at a very reasonable rate. What is important for you to get an idea how to get discounts. You also need to know about  benefits of coupon codes on daily life. When you have an idea of both aspects then you are able to buy two things at a price of one. Let’s get complete understanding.

How to Get Discount?

Well, there are different ways of getting a discount.

Ask for it: It is quite simple way, indeed. For this purpose, you can start an online chat with store and ask them to offer you a big discount. Interesting thing is that major retailers provide a discount of 10 percent upon request.

Get alerts: There are many online websites that provide you a service of notification as soon as a retailer offer special deals and major discount. You can sign up on such websites and get notification time to time. You can try Shop it to me or Price Blink.

Use Coupons/Vouchers: You can get discount coupons online for almost every online store and big retailers. Some coupon offer flat 50 percent discount while other give you a chance to save some amount. In either case, it is a win-win situation. When you get 50 percent off on a shirt for example, then you can use avail this discount to buy another shirt. This is how you will get two items at a price of one.

Flash Sales: Don’t miss flash sales, which provide up to 70 percent discount. It means that you can get more than two items at a price of one. This is quite tempting. Isn’t it?

Clearance Sale: Whenever you hear about a clearance sale, you should rush for it in no time. In this sale, you get a chance to get extra discount. Extra means you can ask for more discount from the retailer like Amazon, eBay, etc. and you will get it for sure.

Benefits of Coupon Codes

You need money in your daily life. When you use coupon codes, then you can save some money. For example, if you have 10 percent off coupon code then you can save $5 on every $50 shopping. You can use this saved money anywhere else. This means you enjoy a kind of relief. When you save money, you feel happy. So, coupon codes bring happiness in your life as well. As you use coupons, you know that what exactly you are going to pay for a specific grocery or other item.

After reading this article, you never like to buy an item online at its stated price because now you know that you can get more at the same price. Isn’t it?

The Right Attitude to Gaming and Saving

cards-1255708_640It may seem like an oxymoron. Gambling is, almost by definition, a way to lose a lot of money really fast. Could you win big? Sure, but it’s no sure thing. Most people who play gambling games to win end up losing quite a lot of money. Plus, gambling has been condemned in many philosophies and religions due to how much money you can lose.

Gambling is not a way to make reliable money and it’s a great way to lose it, but for people who do like to do it as a special activity, there is a way to do it responsibly. How do they do it? That’s what we’re going to talk about.

The first thing you need is the right mindset. Gambling responsibly is not about making money. Period. It is about enjoying the game for a limited amount of time. It’s a special activity, much like drinking alcohol. Too much of a good thing is almost always bad. If you find yourself making too much time to play gambling games, then you may want to examine your behavior.

You also need a limited bankroll. A bankroll, for you non-gamblers, is the amount of money that you plan to gamble with. Your bankroll needs to have an upper limit and a lower limit. The upper limit stops you when you make a certain amount of money so you don’t get excited and lose your gains. The lower limit stops you so you don’t lose all of your cash. So, for instance, if you decided you were going to take $100 to go gambling, you could set the upper limit at $200 and the lower limit at $40. As long as you’re still within these ranges, it’s okay to keep playing.

Finally, you also need the right game. You need a game that will last long enough for you to have fun within your chosen bankroll. Bingo games, for instance, cost very little and are a low-risk game. Penny slots are the same. Sure, you’re not likely to win a lot, but you can play a long time.

On the other hand, a game like poker or baccarat can make you lose very quickly. If you’re choosing your games based on the amount of money you can win or lose, watch out! That’s a problem sign for gambling. The games you choose should be because you like to play them, not because you can win a lot.

A great way to avoid the most dangerous parts of gambling is to play games online. A bingo games site like BingoMania.com lets you deposit just a little bit and you can play anytime. Playing gambling games online is also much cheaper. You don’t have to pay for travel costs or the costs of eating expensive restaurant or casino food. They also have chat rooms so you can talk with the other players.

On the other hand, the lure of being able to play anywhere with a net connection can be too strong for some. Keep an eye on the bankroll and the amount of time you want to play before you try online gambling.
Is it better to avoid gambling while you’re paying down debt? Sure, but there are ways to do it responsibly as a special treat. Follow the tips in this article and you can safely enjoy these fun games without ruining your plans. And if you win big, remember to file your taxes correctly!

What are the Factors causing Volatility within the GBP/USD Currency Pairing?

world-1264062_640If you are a currency trader, you will be well-versed in the impact that volatility has on individual price shifts and trends. This can be damaging enough at the best of times, but it is even worse in instances when there are wider economic concerns that influence the trajectory of currency values and exchange rates.

It is usually the major currency pairs that are most adversely affected by global economic shifts, with the GPB/USD pairing one of the most volatile examples. The present market embodies this perfectly, with a number of factors combining to exacerbate the Omni-present volatility that exists within the foreign exchange.

3 Factors that are Causing Volatility within the GBP/USD Pairing 

With this in mind, let’s take a look at three of the most prominent factors that are causing volatility within the GBP/USD currency pairing. These include: –  

  1. The Fall-out from Brexit 

While the recent news bulletins on Axitrader seem to suggest that the British pound has recovered from the initial impact of Brexit, currency traders should tread carefully. After all, the decision of British voters to leave the EU sent the value of the pound plummeting to its lowest rate in 31 years, while it has barely recovered to its post-recession levels in 2010.

With a prolonged period of uncertainty now likely as the government waits to conceive a plan and trigger Article 50, there is a danger that the GBP will remain weak and continue to fluctuate between variable lows. In theory, this will make the GBP/USD pairing increasingly unstable across the near-term future.

  1. Strong US Data-sets 

Interestingly, the revelation that UK borrowing had decreased was expected to cause the pound to rise against the dollar at the beginning of the week. Experts had not accounted for similarly strong US data releases, however, which included a decrease in unemployment claims by 4,000 and an improvement to 2.0 in the national manufacturing index.

These bulletins and data-sets helped to reinforce the robust strength of the USD, driving down the value of the pound further in the process. This has caused unexpected volatility within the pairing, while this trend is likely to continue over the course of the next few months.

  1. The Upcoming US Election 

The US Election is fast approaching, as American voters face a seminal decision that could change the course of politics in the Western world. It is worth noting that the GBP/USD endured greater volatility when Trump was ahead in the initial polls, with the prospect of his election creating considerable uncertainty about America’s social and economic future.

Even though Hilary Clinton has now reversed this lead as Trump’s campaign has begun to unravel, his presence as a political wildcard cannot be discounted. With plenty of time before votes are cast, the build-up to the election will see considerable shifts in price between the GBP/USD over time.

Five Things about CFDs You Have to Experience Yourself

eggEven today, there are quite a few retail investors who are still not very fond of the term “CFD” or Contract for Difference. These are people who believe that CFD trading is dangerous and speculative. The best alternative for these individuals is stock; they try to prove that stocks don’t have any risk, which is not true.

The process of CFD trading is pretty simple; as an investor, you’ll need to enter a contract with a CFD provider like CMC Markets. The said contract can be derived from any underlying asset include currencies, commodities, stocks, etc. The price movement of those assets would decide who will be making a profit, you i.e. the investor or the contract provider you picked.

CFD is actually a financial tool that would allow you to make investments without being the owner of an underlying asset. This trading type might not be the favourite of all, but statistics obtained recently reveal that the popularity of CFD is increasing rapidly. That has been possible because more people have started to understand the array of benefits it offers and the right way of performing this form of trading.

The section below will educate you about different features and advantages of CFD trading that you would understand only if you experience the process yourself.

  1. Preserving your capital is important- Before you begin CFD trading or start getting your strategies ready, you must find out ways to preserve your capital. This advice might appear a bit counter-intuitive, but following it is important to ensure that the other party involved in the contract loses. If you are just starting out, it would be wise for you to not become excessively impatient for making money. Your primary goal should be keeping as much money in your pocket as possible.
  1. Controlling your leverage is the way to go- If you are into CFD trading controlling your leverage is a must for you. Leverage has immense power and it boasts the ability to treat you with huge profits for minute capital investments made by you. However, it’s also important to remember that leverage might also make you suffer big losses. So, people beginning their journey in the field of CFD should take a different approach. They should look to limit the leverage as much as they can and shy away from exposing all their deposits to risk by opting for excessive leverage. The ability to act wisely when using leverage is a quality you must possess to become a successful CFD trader.
  1. Stop losses should also be used religiously- Talking about cut losses is much easier than handling them in real life. Luckily, the majority of the top CFD providers allow investors to pre-set a maximum loss point. To set your loss point correctly you must gather enough information about the system used by your CFD provider. It’s extremely important to know the actual definition of stop loss, but what’s even more important than that is sticking to that definition.
  1. You will not be able to experience any success if you do not have a positive mindset- The more you will gain experience in the world of CFD trading, the more you will learn about the importance of staying positive. You will never come across a person who wants to suffer losses, but there are times when we need to face unwanted failures. That’s natural; you cannot expect to be successful with all your ventures. The same stands true even for CFD trading. To become a successful CFD trader, you will have to learn accepting losses. If you show discipline and patients in hard times and remain positive, small losses will not hamper your journey towards the peak.
  1. There is nothing called a perfect method- When you will start your journey in the world of CFD trading, you would find people talking about the perfect method to be adopted for achieving success in this type of trading. The fact is that the term “perfect method” is nothing, but the myth as far as CFD trading is concerned. So, instead of wasting your time searching for the perfect method, focus on things like keeping losses as small as possible. You should also avoid being too experimental hoping that innovation would bring in better results.

Our Experiment in Using Credit Cards

-1For most of my adult life I haven’t used credit cards. If you’ll remember, I had access to a decent chunk of credit back in university (in the days when they’d increase your limit without you asking), and so during my second degree I maxed out my cards for tuition. With maxed out credit cards and no desire to take on more debt, we were forced to live on cash/debit.

This wasn’t a bad thing necessarily. It’s not exactly easy to accumulate more debt when you can only live on what what’s in your bank account. We didn’t even have overdraft which we may be tempted to dip into. Though we were living on cash, as I have talked about many times before, we weren’t managing our finances well. Bills were getting paid but we weren’t making any headway on our debt repayment which wasn’t doing favors for anyone.

In the last few years we’ve come a long way, we’ve learned how to manage our money, pay off debt and live our life. One thing we’ve never really done though is learn how to properly use a credit card. I really don’t think a credit card is a necessity to live, there are plenty of people who get along fine without them, but for us it was something I wanted to master.

The biggest reason I wanted to master proper credit card usage was because one of our biggest annoyances with our budget is that we’re paid bi-weekly but almost every bill we have is set up to be a monthly paid bill but when it comes to our discretionary spending on things like groceries, gas, or even cat needs things can get kind of confusing about exactly how much to allocate and when to use the cash. I wanted the flexibility to spend, say $200 in one grocery run but only spend $75 the next time and not spend the difference in cash but by the end of the month stay within what we budgeted. I don’t like allocating the exact same amount every two weeks. I wanted to experiment with using a credit card for a few months to see if we could stay within what I had established as a ‘’monthly’’ allotment for these discretionary categories allowing us to manage the cash side of things a bit easier and here’s what I learned:

It’s incredibly easy to get lazy with tracking when it goes on a credit card. When you pay cash/debit for everything, you’re forced to keep an eagle eye on your bank account daily, if not multiple times per day. Though this is a habit that should have transcended with the credit card, it did not for us.

It’s too easy to overspend. We knew the money was there so we just kept spending. I’d go to the grocery store, grab some things and Mike would follow getting more, leading to unnecessary spending, multiple times per month.

It can be uncomfortable. Seeing the balance grow throughout the month is not a feeling I like, so much so that we’ve learned very quickly, two months into this experiment, we need to change how we use and pay off frequency.

We definitely made some mistakes in these first two months of usage but thankfully we have our financial knowhow to be able to recognize what we need to do to fix our errors. One thing we did do is make sure the credit we had available to us was manageable, especially with me preparing to go on maternity leave. The last thing we want is to end up in unnecessary credit card debt. Our limit is set that we should be able to have it paid off (if ever maxed out) within two months.

Even though we’ve made some mistakes, we’ve also taken the time to realize what we need to do to make it work and are going to give it another try…with the obvious being much more careful monitoring.

Do you like using credit cards for daily spending? Any secret tips?

How to Save Money When Purchasing a Condo in Montreal

Buying a new condo can be a scary decision but it really doesn’t have to be. With the right know-how, purchasing a condo can actually be a simple, exciting and very rewarding experience. Here are a few money-saving tips to remember when you’re buying a condo in Montreal:

Know your budget

The best way for you to start saving money right away is for you to know what you can afford. Borrowing less from the bank today means that you will pay less interest over the course of your mortgage. Use an online mortgage calculator to calculate what mortgage payments you will be able to manage. Get a pre-approved mortgage from your bank so that you have a price range to keep in mind.

Discover Financial Assistance Programs

Another easy way for you to save money on your condo purchase is through financial assistance programs that offer tax credits, deductions and refunds. Do your research and find out if you are eligible for any financial assistance programs such as First-Time Home Buyers’ Tax Credit (HBTC) and Home Buyer’s Plan (HBP).

Create a Must-Haves List

My must-have list saved me a lot of money on my condo purchase. I eliminated the things that I didn’t need and I avoided paying more for unnecessary features. You should do the same. Do you really need a parking space (or two), a storage space, a swimming pool or a gym? Do you need to be close to public transit? Your must-haves list will affect the overall cost of your condo.

Learn about the developer

You can save yourself a lot of money and headaches later on if you firmly understand from whom you are buying your condo before you commit to anything. You should look at the builders past projects and their delivery record. Look for any past customer complaints, any additional costs and find out if the condo developer offers any warranties or if they have a detailed guarantee plan.

Understand the final purchasing steps

Exhaust all the tools at your disposal in the purchasing final steps and you can avoid serious problems and financial burdens in the future. Buying early does give you more return on your investment, but it is important that you don’t rush into anything. In Quebec you are allowed a 10-day cancellation period for a signed preliminary contract. Use this time to discuss concerns with your lawyer and confirm your financing. If you are buying a resale condo, have the condo inspected so that you avoid any additional surprise costs.

Account for closing costs

Don’t get blind-sided by any additional closing costs such as title insurance, notary services and moving expenses. Make sure that you figure all additional fees into your initial condo-purchasing costs and save yourself from blowing your budget.

Mondev-Buyers-Guide-Final-Infographic-En

Will My Insurance Cover My Stolen Car? And Other Questions

key-791390_640Almost all states require all drivers to have a minimum level of auto insurance coverage. States also have set amounts on the minimum coverage car owners should have. Car insurance providers however, offer various types of car insurance that go above and beyond the minimum state requirements.

The following are the most common coverage types offered by insurance providers:

Liability insurance

Many car owners opt only for liability car insurance because they feel car insurance premiums for additional coverage is too much for their vehicle. Liability insurance is the minimum type of coverage required in most states. This type of insurance covers the cost of repairing damage to property resulting in an accident that you are liable for. The insurance also covers injuries resulting from accidents that you’re liable for.

The insurance covers medical bills and vehicle repairs for the other party. However, it won’t cover medical bills that you or even your passengers incur from the accident. It will also not cover damage to your vehicle.

It is a good idea to have more coverage than your state’s minimum requirement, unless you drive an old car that wouldn’t be worth replacing, and have solid health insurance that can cover your medical costs in the event of an accident.

Comprehensive insurance

Accidents aren’t always the cause of damage to vehicles. Cars can be damaged as a result of the weather. They can also be stolen. What happens when this occurs?

Comprehensive coverage protects against incidents that are unrelated to accidents. According to the Insurance Information Institute, over 78 percent of car owners opt for comprehensive insurance. It is often purchased together with collision insurance and is optional in many states.

This type of insurance cover can be costly. However, by comparing insurance quotes and installing safety devices, such as anti-theft and car-tracking systems, you can reduce your insurance rates.

Collision Insurance

If you’re involved in a mishap, this type of coverage will help to cover the damage to your own vehicle. This type of coverage will pay for the cost of repair to your car. However, if your car is totaled i.e. the cost of repair exceeds the value of the car or the car is beyond repair, the insurance cover will provide payment for the value of the car.

This type of insurance is worth having if you have a new car. It also depends on the value of the car. It isn’t worth spending more money for insurance than the value of the car.

Personal Injury protection (PIP)

PIP is also optional in most states. It covers medical bills that you incur as a result of injuries you suffer in a car accident no matter who’s at fault. The insurance policy can cover other members of your household if listed on your policy. It will also cover your passengers.

Medical expenses that can be covered by this insurance also include those that would typically not be covered by other health insurance policies (e.g. lost income, funeral expenses and even child care).

Uninsured/Underinsured coverage

Although auto insurance is mandated by state laws, some drivers violate the law by driving without insurance or with inadequate insurance. A 2014 study by the Insurance Research Council (IRC) revealed that over 12.6 percent of motorists are either uninsured or underinsured.

If an uninsured or underinsured driver is responsible for damages in an accident, you are not likely to receive payment to cover your damages. It is therefore advisable to have coverage that can pay for your car repairs and medical bills when involved in an accident with such a driver.

It is important to consider all types of scenarios and all your requirements when determining what type of insurance policy to purchase. Having adequate insurance will go a long way toward your peace of mind.

3 Honest Reasons Why You Should Wait to Have Kids

Source: Free Digital Photos

Source: Free Digital Photos

Having kids is a life alerting thing, likely one of the biggest life changes any couple will make. Some couples choose not to have children and I personally have zero issue with this. While I can’t imagine my life without my daughter and impending baby 2.0, I 100% understand this is not the life for everyone (I apologize on behalf of the childbearing society which attempts to pressure you and make you feel bad). If, however you are considering having a child, there are some very real things to consider in terms of timing. While medical professionals will remind you that waiting may not be the best fertility practice, there are many other benefits to holding off on having your first child.

You Have More Time to Get Your Finances in Order

While this theoretically should have been true for us, given that we had three full years of career-level income before having our daughter, we did not put this into practice. Knowing what I know now, I want to kick myself, hard. For us, it took getting pregnant and having another human to care for to get us in gear BUT if you’re lucky enough to have the financial ability to deal with any and all financial issues (paying down debt, beefing up savings, getting housing in order) before baby comes- do it. You will NEVER have the same financial opportunities once baby comes. Holding off on pregnancy means more time to get financial affairs in order and you must capitalize on this.

You’ll Likely Score Free Stuff From Friends

If I’m being honest, one of the biggest perks with not being the first of my friends to have kids is scoring on the baby stuff they want to give away. I have one friend who has a daughter three months older than Maria, three months is about the max time you’ll get out of an outfit in a growing infant which meant as she was growing out of cute baby clothes, we were handed them. This saved us a ton during the first year. Between her hand-me-downs and what I received as shower gifts, I didn’t buy a single item of clothing in year one. I visited the same friend today who gave me bags full of baby clothes. They didn’t know with either pregnancy if it was a boy or girl so they handed over all the baby boy stuff to us to have for our impending son, a lot of it brand new.

Within my circle of friends we’ve shared many things between us which has saved all of us a decent chunk of money. Toys, bouncy chairs, breast pumps (easy to come apart and sterilize), clothes (who wants to spend $30+ on an infant dress to wear to a wedding when you can borrow?). Being able to accept hand-me-downs and borrow items is a huge plus.

Your Bucket List Will Be Smaller

Though you may be in your peak fertility years, I simply cannot imagine planning a child in my late teens/early 20’s. By the time you’ve finished your post-secondary, and had a few years to live your life, I just don’t see how you can be prepared to have a child without regret any earlier. Not that a child isn’t a blessing, by waiting a few years you’ll have more opportunity to accomplish things that might not be so easy once a baby comes into your life.

I have people in my life who had kids very young (some planned, some not) and people who deliberately waited. The ones who waited are often much, much better off starting out. They have the financial knowhow to manage a maternity leave, to understand the importance of a stable living situation and truly appreciate the life they’ve set up for the child. So though society may judge you for not considering children until beyond your 30’s, or even 40’s you really do get the last laugh.

Earn a Living Doing the Things You Love

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Is it your dream to be your own boss and earn a living doing the things you love? The digital revolution witnessed over the last two decades has created opportunities allowing people to indulge their passion, however niche, and turn it into a successful business.

The internet has created infinite possibilities now that you can switch on your computer and connect with tens of millions of people on the web. It means you can build your own business in ways that were not possible 10 or 20 years ago.

Music, writing and art

Musicians are no longer limited to trudging round local pub and club circuits and sending off demo recordings in a bid to break through. Independent musicians can go it alone by uploading their work to platforms such as SoundCloud, Audiomack and Youtube where the potential audience runs into millions.

It’s no longer a requirement for budding authors to invest £000s with a so-called “vanity press” in order to bypass publishers’ rejections. You can self-publish and get access to the same online retail distribution as a traditional publisher through services like Amazon KDP, Smashwords, Draft2Digital, CreateSpace and IngramSpark.

You can use your artistic skills to make a living selling your work on Etsy and DeviantArt. Etsy is a huge online market place with people buying and selling handmade items such as jewelry, screen-printed textiles, furniture, in fact anything you can imagine and your hands can produce is likely to find a buyer. DeviantArt is the largest online community for showcasing digital artists and photographers. You can discuss techniques and tools of the trade in addition to selling your work.

Blogging

There are a number of options if you have a passion for sport. Creating a blog to run your own fanzine which can be monetized from adverts and sponsored content. Use your writing skills to get paid for producing previews and reviews for large sports websites which are constantly on the lookout for content providers.

Matched betting

Matched betting is a perfect, risk-free way of fulfilling this passion if you are over the age of 18 and reside in the UK or Ireland. You can take advantage of betting offers to earn a regular tax-free income of between £500 and £2000 per month for what is essentially part-time work.

It’s tried and tested, and becoming more and more popular due to subscription websites which provide all the tools, guides and offer the information required. Matched betting at matchedbets.com for example allows you trial the method for free and discover for yourself how easy it is.

Distance teaching

Use the skills you’ve already developed to inform and educate others. You can offer one to one training at an hourly rate on Fiverr and People per Hour or teach to a wider audience by creating your own YouTube channel which can be monetized with ads and sponsorship. Tap into your personality and become a YouTube star. There is money to be made presenting your opinions whether it be a Vlog of the trials tribulations of daily life or as a reviewer of video games, gadgets or even household appliances if that’s what turns you on.

25 Alarming Facts About Debt in America

Facts About Debt in America

It is no secret that debt is a huge problem in America, however, when most people think about debt in America they think about the national debt (which is in the trillions). The debt that many people are overlooking is the debt that lies within our own homes. In fact, 43 percent of American families spend more money than they make every year.

Why is this still happening? People hear about debt, read articles about budgeting and possibly even seek professional financial advice but we, as Americans, are still allowing ourselves to fall deeper and deeper into debt. Some scholars say this is because people are not educated on the reality of debt in America. Learning about debt and financial wellness is the only way to break the vicious cycle of poverty. In effort to better people’s knowledge of debt in America, here are 25 rather alarming facts:

Facts About Debt in America

  1. Forty-six percent of all Americans carry some kind of credit card debt from month-to-month.
  2. Americans carry $798 billion in credit card debt in all (you could not amass that amount of debt in your lifetime even if you spent $7 billion every day since the day you were born and lived to be 100 years old).
  3. The average amount of credit card debt per household is practically $16,000 and the average interest rate on credit cards in America is just over 13 percent.
  4. People ages 45 to 54 hold the most credit card debt (averaging about $9,000 per person in this age group).
  5. Surprisingly, the more money you make, the more credit card debt you carry. People in the $160,000 a year and more income level carry over $11,000 in credit card debt, on average, compared to those who only make $25,000 a year or less ($3,000 in credit card debt).
  6. The average consumer in America has 3.5 credit cards.
  7. Most Americans have at least one credit card before the age of 21.
  8. On average, men carry $2,000 more in credit card debt than women.
  9. Caucasian Americans carry more credit card debt than any other race in America (averaging over $7,900).
  10. Credit card debt is only a fraction of the problem though. The average American family holds over $132,000 in total debt.
  11. Forty-five percent of all auto loans in America are made to be paid over six years or longer (plenty of cars don’t even last that long).
  12. In America, 70 percent of all car purchases involve a loan.
  13. Mortgage debt is about 70 percent higher than it was just 20 years ago.
  14. The percentage of residential mortgages that are currently in foreclosure sits at 4.5 percent.
  15. Eight million Americans are at least one month behind on their mortgage right now.
  16. About 40 percent of Americans are currently in medical debt or paying off medical bills.
  17. In more than 60 percent of personal bankruptcies medical bills play a major factor in the reasoning behind the individual filing for bankruptcy.
  18. Student loan debt in the United States is over $1 trillion.
  19. About 65 percent of all American college students will graduate with student loan debt.
  20. The default rate on student loans has doubled in the past 10 years.
  21. Twenty-five percent of college students use credit cards to pay their tuition and other fees.
  22. The average American household is paying $6,658 in interest each year.
  23. There is a strong correlation between debt and mental illness. The likelihood of having a mental health problem is three times higher among people with debt than those who have not.
  24. Nearly 1 in 5 of Americans between the ages of 18 and 24 consider themselves to be in some sort of debt hardship.
  25. The rise in cost of living has outpaced growth in income for the past 12 years (this is the root of the debt problem).

How to Get Rid of the Debt Problem in America

How do we fix this problem? Well, there is no one answer to fixing the debt problem in America. However, there is one simple step that could help: get rid of things you don’t need. For the most part people are racking up debt for items and services that just aren’t necessary. For instance, do you really need Netflix AND a premium cable package? Do you need your home phone and cell phone? There are probably a few cuts that you could make in your budget to make it easier to pay off your debt and avoid racking up more debt in the future.

What do you think the answer to America’s debt problem is?

Photo: Flickr: Images Money